Q.1. How many types of invoices would be required to be issued under VAT?
A.1. There are two types of invoices that can be issued:
Tax invoice
Retail invoice
Q.2. What is a tax invoice and who will issue it?
A.2. Under VAT, tax invoice is a very important document. A registered dealer selling goods to another registered dealer shall issue tax invoice.
Q.3. What should a tax invoice contain?
A.3. A tax invoice should contain the complete details about selling as well as purchasing dealer. The invoice should also contain details about sale viz. description of goods, quantity, rate per unit and total value of goods. The Tax invoice may be in the following format:
| TAX INVOICE | ||
| Book No. | Invoice No. …………… | Date |
| Name of selling dealer | ||||
| Address | ||||
| VAT TIN | ||||
| CST TIN | ||||
| Name of purchaser | ||||
| Address | ||||
| VAT TIN | ||||
| CST TIN | ||||
| Sr, No. | Description of goods HSN | Quantity | Rate per unit | Amount |
| Total | ||||
| VAT @……. | ||||
| Grand Total | ||||
(Signature of authorized person)
Q.4. What is a retail invoice?
A.4. A retail invoice is an invoice issued by registered dealers for all sales where a tax invoice is not authorized to be issued. It would not be necessary to issue retail invoice for the sale value is less than rupees one hundred.
Q.5. What should a retail invoice contain?
A.5. Retail invoice should contain the same details in tax invoice except TIN of purchaser. A retain invoice may also be in the format for tax invoice. But on the top of the invoice, instead of tax invoice, retail invoice should be printed.
Q.6. How many copies of the tax invoice/retail invoice should be prepared?
A.6. A tax invoice shall be prepared in triplicate. The ‘original’ and ‘duplicate’ copies shall be issued to the purchaser and the selling dealer shall retain ‘triplicate’ copy. Retail invoice may be prepared in duplicate.
Q.7. Which type of invoice will have to be issued for inter state sales?
A.7. Retail invoice shall be issued for interstate sales, interstate branch transfers and exports.
Q.8. Who is authorized to sign tax invoice?
A.8. A tax-invoice has to be signed by an authorized signatory. Sign of such a person or persons should be submitted to the department in Form 101C.
Q.9. Who should sign retain invoice?
A.9. A retail invoice can be signed by authorized person.
Source- http://www.commercialtax.gujarat.gov.in/vatwebsite/vat/VatFAQMain.jsp?viewPageNo=10
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can i generate tax invoice for registered dealer with tin in out side the state means for interstate sales?
I am a manufacturer I have the customers with and without TIN. There is no doubt about the customers with TIN that’s why we can provide them tax invoice. But in the other case (customers without TIN) I am confused on the process of billing. How can I solve it?
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please clarify one query? I want to export XYZ material as merchant traders from Manufacturer. And I create Export Invoice in advance for S/B generating. In this case Export Invoice date will be first to Commercial Invoice of Manufacturer at the time of dispatch goods to relevant Port. So in this case Sale Tax department can raise any query for the same.
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Is retail invoice is called sales invoice?
WHAT IS THE DIFF. BETWEEN SALES INVOICE AND PURCHASES INVOICE ?
WHAT IS THE DIFF. BETWEEN SALES INVOICE AND PURCHASE INVOICE ?
what is to be done in retail invoice different buyer with tin and consignee with diff. tin in same state?
can we show buyercoustomer and cinsignee name and address in one same retail invoice?
means order placed by X customer in karnataka to Y trader in gujarat with instruction to deliver material to their work site at Z as consinee? in this case should i made retails invoice format like that it includes customer name and tin and consignee name and tin?
Can a person who bought goods on retail invoice, sell those goods further to a consumer without a vat registration by issuing a retail invoice. And can he conduct business as a dealer or not until he volunteer to register or reaches the turnover limit.
can a registered dealer issue Tax invoice to consumers or persons who are not registered dealers?
where to record the purchases on retail invoices in Dvat-30
WE WANT TO SALE DISCARD IT ASSETS TO OUR EMPLOYEES. THEN WHAT TYPE OF INVOICE GENERATED IN THE SAP SYSTEM. IS IT RETAIL INVOICE OR TAX INVOICE WHEREIN ONLY VAT @ 5% TAX PAYABLE. IF RETAIL INVOICE THEN SEND US THE FORMAT. SIR, IT IS VERY HELPFUL TO US.
THANKS
Nilesh,
You are not elegible for setoff ag. Retail Invoice becouse you are not regestered under MVAT.
Sourabh Maini – CA,
Dealer should ask for TAX INVOICE only insteed of VAT INVOICE.
Regards / R.K.MORWAL ( rajeshm@rptechindia.com)
Can we take setoff against Retail invoice?